nuclear verdict

Shuttered Arkansas carrier files Chapter 7 bankruptcy

RCX Solutions filed Chapter 7

An Arkansas-based trucking company, forced to cease operations nearly a year ago after it was unable to climb out of debt following a five-year legal battle over a $23 million nuclear verdict, filed for Chapter 7 liquidation Monday.

In March 2020, RCX Solutions Inc. of Little Rock announced it was closing its doors after its bank refused to extend the carrier’s line of credit, citing the costly legal verdict.

“We kind of got the stool kicked out from under us because the bank said they were...

https://www.freightwaves.com/news/shuttered-arkansas-carrier-files-chapter-7-bankruptcy

The Daily Dash: $411 million nuclear verdict; holiday shipping delays

The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, a Florida jury has awarded an injury victim $411 million in a judgment against a single-truck operation. Plus, a lack of freight capacity has some worrying about holiday shipping delays and Toyota and Hino will bring a Class 8 fuel-cell electric truck to the U.S. next year.

Florida jury makes a statement

A Florida jury has handed down a $411 million judgment against a single-truck motor carrier that...

https://s29755.pcdn.co/news/the-daily-dash-411-million-nuclear-verdict-holiday-shipping-delays

Better safety systems could help fleets avoid nuclear verdicts

Better safety systems could help fleets avoid nuclear verdicts (Photo: Shutterstock)

Within the trucking industry, legal battles over road accidents are nothing new. However, verdicts in trucking accidents have steadily become more costly, partly due to the legal environment that incentivizes lawsuits. This has led to the nuclear verdicts of today in which a jury awards over $10 million in compensation, crippling many fleets and forcing several to bankruptcy. 

In a report, the American Transportation Research Institute (ATRI) observed that while the average size of verdicts was...

https://www.freightwaves.com/news/better-safety-systems-could-help-fleets-avoid-nuclear-verdicts

The Daily Dash: Freight markets burning up; nuclear verdict reversed

The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, freight markets remain on fire and indications are it may continue that way for quite a while. Plus, portions of I-10 reopen following Hurricane Laura and hearing impaired truckers seek relief from certain commercial driver’s license requirements.

Will the good times last?

A new white paper from FreightWaves’ Freight Intel Group, Blume Global and U.S. Bank highlights what could be a multiyear uptick...

https://s29755.pcdn.co/news/the-daily-dash-freight-markets-burning-up-nuclear-verdict-reversed

Nuclear verdict prevention: Is there any hope for fleets?

Nuclear trucking verdicts

Over the past few years, there has been a surge in nuclear verdicts against the trucking industry. Nuclear verdicts are jury judgments that award penalties over $10 million. This warrants a focus by trucking fleets on risk management, as such verdicts can force companies to declare bankruptcy, adding to the distress already prevalent in the industry today. Effective risk-management strategies potentially can lead to lower insurance premiums as well.

One of the primary reasons for such massive...

https://s29755.pcdn.co/news/nuclear-verdict-prevention-is-there-any-hope-for-fleets

How to fight the effects of nuclear verdicts (with video)

A number of nuclear verdicts have rocked the transportation industry over the last several years. FreightWaves teamed up with Gulf Winds International to discuss how these massive jury awards are driving insurance rates up and taking a lasting toll on carriers. 

FreightWaves Director of Freight Intelligence Zach Strickland and Texas Trucking Association President John Esparza tackled the issue head-on in a recent video chat. 

Jury awards against trucking companies continue to swell to higher and...

https://www.freightwaves.com/news/how-to-fight-the-effects-of-nuclear-verdicts-with-video

$26.5 million ‘nuclear verdict’ stands in fatal Oregon road-rage crash

Smacked with a $26.5 million jury award nearly a year ago in a lawsuit stemming from a fatal road-rage crash, Horizon Transport of Wakarusa, Indiana, has failed in its appeal to have the amount lowered.

The case was recently resolved with the verdict intact through a voluntary mediation program offered by the U.S. Court of Appeals for the 9th Circuit.

“The case has been settled on terms mutually agreeable to everyone,” R. Daniel Lindahl of Bullivant Houser Bailey PC told FreightWaves. He was...

https://s29755.pcdn.co/news/$265-million-nuclear-verdict-stands-in-fatal-oregon-road-rage-crash

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